JPMorgan Chase fraud case: One other indictment issued

A second former start-up government has been indicted on prices of serving to defraud a significant lending agency.

Olivier Amar, the now ex-executive who helped oversee the faculty startup Frank, is charged for his alleged position in convincing JPMorgan Chase to buy his former firm.

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Amar, 49, is accused of aiding with the $175 million buy of his former firm, as described within the federal indictment.

Authorities have mounted their case on claims of wire fraud, financial institution fraud, securities fraud, and conspiracy. Amar was the previous startup's chief progress officer.

Frank founder Charlie Javice, 31, is at the moment going through federal prices on the identical counts.

Amar has since pleaded not responsible in court docket, in addition to having posted a $1 million bond.